NCOA Motion Succeeds in Raising Season Ticket Loan
January 29, 2015
Your motion to AGM in October listed the disquiet around the detrimental impact, on members who rely on public transport to get to work, and whose season ticket loans no longer matched the cost of the inflated transport charge. In some cases annual tickets from the Home Counties were costing as much as £8000.
Members instructed the NEC to challenge the maximum £5000 limit to loans as outdated and to negotiate a figure more realistic with the requirements of today.
The NCOA raised this disparity with the employer and following our discussions, we are pleased to report that the limit for a Season Ticket Travel Loan has been increased to a maximum tax free amount of £10,000 in line with HMRC guidelines.